India and Eurasian Economic Union sign Terms of Reference to launch FTA negotiations
India and the Eurasian Economic Union (EAEU) signed the Terms of Reference to launch negotiations on a Free Trade Agreement in Moscow on 20 August 2025.
Summary
India and the Eurasian Economic Union (EAEU), comprising Armenia, Belarus, Kazakhstan, the Kyrgyz Republic and the Russian Federation, signed the Terms of Reference (ToR) to launch negotiations on a Free Trade Agreement in Moscow on 20 August 2025. The ToR was signed by Ajay Bhadoo, Additional Secretary, Department of Commerce, and Mikhail Cherekaev, Deputy Director, Trade Policy Department, Eurasian Economic Commission. India–EAEU trade turnover stood at USD 69 billion in 2024, up 7 per cent over 2023, and the two sides have a combined GDP of USD 6.5 trillion. The proposed FTA is expected to widen market access for Indian exporters and benefit MSMEs.
Key facts
- Date / place
- 20 Aug 2025, Moscow
- Document
- Terms of Reference for FTA negotiations
- EAEU members
- Armenia, Belarus, Kazakhstan, Kyrgyz Republic, Russian Federation
- Signatories
- Ajay Bhadoo (Addl. Secy, Commerce); Mikhail Cherekaev (EEC)
- Trade 2024
- USD 69 billion, +7% over 2023
- Combined GDP
- USD 6.5 trillion
Practice MCQs 4 questions
Where did India and the Eurasian Economic Union sign the Terms of Reference to launch FTA negotiations on 20 August 2025?
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Correct answer: B — Moscow
The Terms of Reference to launch negotiations on a Free Trade Agreement were signed in Moscow on 20 August 2025.
What was the India–EAEU trade turnover in 2024, as noted when the FTA Terms of Reference were signed?
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Correct answer: D — USD 69 billion
Both sides noted India–EAEU trade turnover of USD 69 billion in 2024, a 7 per cent increase over 2023.
Which of the following countries is NOT a member of the Eurasian Economic Union, with which India signed FTA Terms of Reference in August 2025?
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Correct answer: C — Uzbekistan
The EAEU comprises Armenia, Belarus, Kazakhstan, the Kyrgyz Republic and the Russian Federation; Uzbekistan is not listed among its members.
Consider the following statements about the India–EAEU FTA Terms of Reference signed in August 2025: 1. It was signed on India's behalf by Commerce and Industry Minister Piyush Goyal. 2. India and the EAEU have a combined GDP of USD 6.5 trillion. Which of the above is/are correct?
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Correct answer: B — 2 only
Statement 1 is incorrect: the ToR was signed by Ajay Bhadoo, Additional Secretary, Department of Commerce. Statement 2 is correct: the release cites a combined GDP of USD 6.5 trillion.